Question: A bond with a par value of $ 1 , 0 0 0 , 0 0 0 was issued at 9 8 on January 1

A bond with a par value of $1,000,000 was issued at 98 on January 1,2024. The coupon interest rate is 6% and interest payments are made semi-annually. The bond has a two-year life and discounts or premiums are amortized on a straight-line basis.
What are the journal entries for this bond? Adjusting entries are not required

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Here are the journal entries for the bond Initial Journal Entry Date January 1 2024 Debit Cash 98000... View full answer

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